A £3.25m investment package into a healthcare technology business will see the firm increase its operations in Manchester and Leeds.
Maven Capital Partners has invested £3.25m in London-based RwHealth, a provider of predictive analytics and insights to the healthcare and pharmaceutical sectors. The company was formerly known as Draper and Dash.
The transaction includes a £1.5m investment from the Maven VCTs, £1.25 million from the Northern Powerhouse Investment Fund and a £500,000 commitment from Maven investor partner Fullbrook Thorpe.
Read more: go here for more deals news
The funding will enable RwHealth to strengthen its position in the healthcare sector and grow in the pharmaceutical market.
It will use the investment from the Northern Powerhouse Investment Fund to set up a new clinical research team based across Manchester and Leeds and employ new members of its teams in the North.
Alexander Sleigh, investment director at Maven, said; “RW Health is at the forefront of the drive to use Real World Evidence and predictive analytics more effectively in the healthcare and pharma sectors – ultimately, this will enable better patient outcomes and will be more vital than ever in the post pandemic era.
“The company has seen significant commercial growth through its blue-chip customer base which includes NHS Trusts and large pharma companies and is now poised to scale up internationally. We are delighted to be able to support the company’s next phase of growth through this investment via a number of our funds and co-investment partners.”
RwHealth delivers services to healthcare and pharma customers through predictive analytics and insights which can optimise care pathways, identify clinical variations, predict patient flows and enable best in class resource and capacity planning.
Its software solution utilises artificial intelligence and machine learning unify data from disparate source systems to provide clinicians with greater insights into a patient’s journey through the healthcare system.
Orlando Agrippa, CEO at RwHealth said; “This funding gives us the capital needed to provide deeper clinical care technologies, while supporting post-pandemic recovery efforts with our AI Data Science Platform alongside our UK and US healthcare partners.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
